The time it is taking the embattled state-owned Land Bank to clean up its books has delayed the finalisation of its 2020/2021 financial statements, which will only be ready before end-March 2022.

This has required finance minister Enoch Godongwana to write to the speaker of the National Assembly, Nosiviwe Mapisa-Nqakula, and the chair of the National Council of Provinces to explain why the state-owned development bank has been unable to table its annual report within the deadline stipulated by the Public Finance Management Act and to ask for an extension. He said the bank’s financial statements and audit report would be tabled by end-March 2022, which is the bank’s year-end for the 2021/2022 year...

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